Islamic Bank of Britain (IBB), the country's only sharia-compliant retail lender, said a deadline for a Qatari bank to decide on a proposed takeover offer had been extended to January.
IBB is majority-owned by Qatar International Islamic Bank , which has been in discussions since June with Qatari lender Masraf Al Rayan to sell a controlling stake in the British bank.
A deadline for Masraf, the biggest Islamic bank in Qatar, to announce a firm intention to make an offer for IBB lapsed on Dec. 10; it has now been extended to Jan. 7.
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